6th Circ. Kicks JPMorgan Subprime Case Back To Federal Court

Law360, New York (September 26, 2012, 5:24 PM EDT) -- The Sixth Circuit on Wednesday ruled that JPMorgan Chase Bank NA can seek relief in federal court from a state court suit in which the city of Cleveland sought recovery of costs associated with property foreclosures, reversing the federal court's ruling that it had no jurisdiction.

The ruling reversed an Ohio federal judge's August 2010 finding that she lacked jurisdiction over Chase's action for declaratory and injunctive relief. Cleveland had sued Chase and other financial institutions in August 2008, alleging they violated the Ohio Corrupt Activities...
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